Headrick, OK 73549 Foreclosures

foreclosureEveryday, thousands of homeowners in the United States who have been missing their mortgage payments for months are losing their homes due to foreclosure. Order of Saleā€”The formal judgment of a court at the end of a foreclosure case determining the amount of money owed by a defendant and directing the sheriff to begin the process of selling the foreclosed home at auction. Foreclosure is a legal process that employs many terms that may be new to you.

First, the seller can file a lawsuit in the circuit court of the county where the property is located asking for the unpaid balance of the contract together with attorney fees and foreclosure costs. If you have the ability to become current on your payments in a reasonable period of time, your lender may offer you a loan modification.

Foreclosure is a process, whereas the auction is the final point. The new …